The California Association of Realtors® reports that of all generations, Millennials have accounted for the highest share of homebuying activity for the past 5 consecutive years. In order to own a home in the next 12 months, Millennials are willing to make tradeoffs:

  •         70% are willing to cut back on weekend activities (like shopping, going to movies, and visiting the spa)  at least once a month
  •         71% of women and 64% of men are willing to limit eating out and drinking to once per week

And Millennials are open to discussing homeownership with peers to understand what they need, want and where they stand:

  •         68% expressed interest in talking about homebuying topics like affordability, the homebuying process and neighborhood options
  •         71% of millennial women are willing to discuss homebuying with friends
  •         50% of millennial men are likely to engage with or post about homebuying topics on social media

Source: Chase Home Lending “Readying to Buy: First-Time Homebuyers Share Motivation & Willingness to Purchase”

CalDRE# 01898254 | 01896117 | 02043759